Steps on how to Send or Receive Money Through MoMo Agent

Last Updated on January 29, 2025 by admin

In this article you will learn how to Send or Receive Money Through MoMo Agent. As fintech continue to support the Central Bank of Nigeria’s drive for financial inclusion, by providing safe and accessible money transfer to millions of underbanked and unbanked Nigerians.

The Y’ello Digital Financial Services (YDFS), a subsidiary of leading telecommunications company, MTN Nigeria, has unveiled MoMo Agent to traders and shoppers to carry out money transfer and receive money as well. The service is seamless, fast , reliable and secure.

Vast Majority of Nigerians has been searching for how to send or receive money via MoMo Agent.. In this article, we are going to discusses how to send money or receive with MoMo Agent

The process of becoming an MTN MoMo agent is straightforward. Prospective agents can register through various methods, including visiting the nearest MTN office, downloading the application form from the MTN website, or using the self-onboarding process . As a MoMo agent, individuals can provide services such as transferring and depositing money, buying airtime and data, and paying utility bills using a POS machine, thereby facilitating financial transactions for their community without the need for a bank visit.

You can also read:How to become MoMo Agent, Requirement and services to render

Table of Contents

What can you do on momoPSP

MoMo PSP (Point of Sale) is a versatile platform that allows merchants and agents to perform a variety of financial transactions and services. With MoMo PSP, you can:

Financial Transactions:

Customers can deposit cash into their MoMo wallets.
Customers can withdraw cash from their MoMo wallets.
Pay utility bills (electricity, water, etc.), cable TV subscriptions, and other bills.
Buy airtime for any network directly from your MoMo wallet.
Send and receive money to/from other MoMo users.
Receive money from abroad directly into your MoMo wallet (available in selected countries).
Accept payments for goods and services from customers using MoMo.

How to Send Money via MoMo Agent

To send money via a MoMo Agent in Nigeria, follow these steps:

Use the MoMo app or dial *223# on your MTN line to find the nearest agent.
Give the agent the recipient’s phone number and the amount you want to send.
Double-check the recipient’s details to ensure accuracy.
Give the agent the cash amount you want to send, plus any applicable fees.
The agent will process the transaction and provide you with a receipt.

The recipient will receive an SMS notification about the money transfer, and they can then cash out the funds at a MoMo Agent or use them for other MoMo services.

How to Receive Money via MoMo Agent

To receive money via a MoMo Agent in Nigeria, follow these steps:

Use the MoMo app or dial *223# on your MTN line to find the nearest agent.
Inform the agent of the sender’s phone number and the expected amount.
The agent will verify the transaction details with the sender.
Once the transaction is confirmed, the agent will give you the cash amount.

Deposits And Withdrawals from Momo Agent

Deposits and withdrawals on MTN MoMo Agent are simple and convenient processes, making it a preferred choice for many users in Nigeria.

Deposits:

Find the nearest agent using the MoMo app or dial *223# on your MTN line.
Tell the agent that you want to deposit money into your MoMo wallet and provide your MoMo phone number.
Give the agent the amount of cash you want to deposit.
The agent will process the deposit and you’ll receive an SMS notification confirming the transaction.

Withdrawals:

Use the MoMo app or dial *223# to find the nearest agent.
Inform the agent that you want to withdraw money from your MoMo wallet and provide the amount.
You may be asked to provide your MoMo PIN or other identification details for security purposes.
Once the transaction is approved, the agent will give you the cash amount.

Frequently Asked Questions

Q: How do I send money through a MoMo Agent?
A:
1. Locate a MoMo Agent.
2. Inform the agent of the recipient’s phone number and the amount you want to send.
3. Verify the details and pay the cash amount plus any applicable fees.
4. You’ll receive a confirmation SMS.
Q: What are the fees for sending money?
A: Fees may vary depending on the amount being sent. Inquire with the MoMo Agent for specific fees.
Q: Is there a limit to how much I can send?
A: Yes, there are daily and per transaction limits. You can check these limits by dialing *556#.
Q: Can I send money to someone who doesn’t have a MoMo account?
A: Yes, the recipient can easily create a MoMo account by dialing *671# on their phone.

Receiving Money:

Q: How do I receive money through a MoMo Agent?
A:
1. Locate a MoMo Agent.
2. Inform the agent of the sender’s phone number and the expected amount.
3. The agent will verify the transaction with the sender.
4. Once confirmed, you’ll receive the cash.
Q: Are there any fees for receiving money?
A: Typically, there are no fees for receiving money through a MoMo Agent.
Q: Can I receive money from someone who uses a different network?
A: Yes, MoMo allows for interoperability between different mobile networks in Nigeria.

General Questions:

Q: How can I find a MoMo Agent near me?
A: You can use the MoMo app, dial *223# on your MTN line, or visit the MTN website for agent locations.
Q: What do I do if I have a problem with a MoMo transaction?
A: Contact MTN customer care for assistance. They can help you track the transaction and resolve any issues.